Economics CUET 2024 Paper

Q3 Match List-I with List-II:

 Choose the correct answer from the options given below:

(1) (A) - (I). (B) - (II) (C) - (III). (D) - (IV)

(2) (A) - (I). (B) - (III)  (C) - (I). (D) - (IV)

(3) (A)- (I) ( (B)-(II) (C)-(IV) (D) - (III)

(4) (A)-(III), (B)-(IV) (C)-(I). (D) - (II)

Q4 When Elasticity of Demand Curve is 1 at every point on the Demand Curve, this curve is known as

(1) Perfectly inelastic demand curve

(2) Perfectly elastic demand curve

(3) Rectangular Hyperbola

(4) Greater than unitary demand curve

Q5 According to the Theory of Consumer Behavior Inequality p₁ x₁ + P₂ x₂ M is called the Consumer's ___

(1) Budget

(2) Budget Set

(3) Budget Constraint

(4) Budget Behaviour

Q6 Choose the correct statements from the following:

(A) Adam Smith is termed as Father of Modern Economics.

(B) J.M. Keynes gave the Theory of Income, Output and Employment.

(C) Four Sector Model C +I+G+(X-M)

(D) Store of value is primary function of money.

Choose the correct answer from the options given Below:

(1) (A), (B) and (D) only

(2) (A), (B) and (C) only

(3) (A), (B), (C) and (D)

(4) (B), (C) and (D) only

Q7 Rearrange the given statements in proper chronological sequence in an ascending order (earliest to latest):

(A) General theory of Employment, Interest and money by Keynes.

(B) Mahalanobis was made a fellow of Britain's Royal Society.

(C) An Inquiry into the Nature and Cause of the Wealth of Nations by Adam Smith.

(D) The Economic Consequences of the Peace by Keynes.

Choose the correct answer from the options given below:

(1) (C), (D), (A), (B)      

(2) (A), (B), (C), (D)

(3) (A), (C), (B), (D)      

(4) (D), (A), (C), (B)

Q8 If there is no government and no foreign trade, then:

(1) G=T=M=X>I

(2) G=T=M=X=1

(3) G=T=M=X=0

(4) G=T=M=X<I

Q9 The value of Nominal GDP is $ 1100 and the value of Real GDP is $ 1000. Find the value of GDP deficit

(1)  0.9                 

(2) 1.1

(3) 1           

(4) 0.8

Q11 Identify the correct statements:

(A) Stocks are defined over a period of time.

(B) Flows are defined over a period of time.

(C) Flows are defined at a particular point of time

(D) Stocks are defined at a particular point of time

(E) GVA at factor costs + Indirect Taxes - Subsidies = GVA at market prices.

Choose the correct answer from the options given below:

(1) (A), (C) and (E) only

(2) (B), (D) and (E) only

(3) (B), (C) and (D) only

(4) (C), (D) and (E) only

Q11.If the supply of final goods is assumed to be infinitely elastic at constant price over a short period of time Aggregate output is determined solely by the value of Aggregate demand. This is called Principle.

(1) Aggregate supply

(2) Aggregate demand

(3) Effective demand

(4) Perfectly inelastic demand

Q12. Nominal Interest Rate = ______

(1) Real Interest Rate x Inflation Rate

(2) Real Interest Rate - Inflation rate

(3) Real Interest Rate / Inflation rate

(4) Real Interest Rate + Inflation rate

(1) The size of the multiplier would be increased

(2) The size of the multiplier would remain same

(3) Value of the multiplier is undetermined with the given information.

(4) The size of the multiplier would be decreased

1. Paradox of Thrift means:

(1) If all the people of the economy increase the proportion of income they save, the total value of investment in the economy will not increase, it will either decline or remain unchanged.

(2) If all the people of the economy increase the proportion of income they spend, the total value of

savings in the economy will not increase, it will either decline or remain unchanged.

(3) If all the people of the economy decrease the proportion of income they save, the total value of savings in the economy will not increase, it will either decline or remain unchanged.

(4) If all the people of the economy increase the proportion of income they save, the total value of savings in the economy will not increase, it will either decline or remain unchanged.

(1) Ex-Ante

(2) Ex-Post

(3) Constant

(4) Variable

(1) ₹ 4000 crore

(2) ₹ 120 crore

(3) ₹ 400 crore

(4) ₹ 160 crore

1. Which of the following statements are true?

(A) Quantitative tools control the extent of money supply by changing the CRR.

(B) There are two types of open market operations - outright and upright.

(C) A fall in the bank rate can decrease the money supply.

(D) Selling of a bond by RBI leads to reduction in the quantity of reserves.

(E) The RBI can influence money supply by changing the rate at which it gives loan to the commercial banks.

Choose the correct answer from the options given below:

(1) (A), (C) and (D) only

(2) (A), (B) and (D) only

(3) (B), (D) and (E) only

(4) (A), (D) and (E) only

Q18 Match List-I with List-II: List-I

Choose the correct answer from the options given below:

(1) (A)-(I), (B) (II), (C) - (II), (D) - (IV)

(2) (A)-(II), (B) - (III), (C) - (I), (D) - (IV)

(3) (A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(4) (A)-(III), (B) - (IV), (C) - (I), (D) - (II)

(1) It controls the money supply in the economy through different rates.

(2) It acts as a banker to the government.

(3) It accepts deposits and give loans to people.

(4) It issues the currency of the country.

(1) Consolidated Fund of India

(2) Public Account

(3) Union Budget

(4) Contingency Fund

(1) Capital Receipts

(2) Capital Payments

(3) Revenue Receipts

(4) Revenue Payments

1. Arrange the following elements in correct chronological sequence (earliest to latest):

(A) Smithsonian Agreement

(B) Bretton Woods Conference

(C) Establishment of WTO

(D) Gold Standard

Choose the correct answer from the options given elow:

(1) (A), (B), (C), (D)

(2) (D), (B), (A), (C)

(3) (D), (A), (B), (C)

(4) (C), (B), (D), (A)

Q23 Under a flexible exchange rate, when the price of domestic currency in terms of foreign currency increases. A is called __

(1) Depreciation of domestic currency

(2) Appreciation of domestic currency

(3) Devaluation of domestic currency

(4) Revaluation of domestic currency

 Q24 Match List-I with List-II

Choose the correct answer from the options given below

(1) (A)-(II), (B)-(I). (C)-(III) (D) (IV)

(2) (A) - (II). (B) - (III), (C) - (1), (D) - (IV)

(3) (A) - (1). (B) - (II), (C) - (IV), (D) - (III)

(4) (A)-(III), (B) (IV). (C) - (I). (D) - (II)

(1) Decrease in the vulnerability of the workforce

(2) Increase in the vulnerability of the workforce.

(3) Increase in the number of regular workers.

(4) Income and employment stability

(A) Establishment of NABARD

(B) FRBMA (Fiscal Responsibility and Budget Management Act)

(C) Third Five Year Plan

(D) Nationalization of RBI

(1) (A). (B). (C), (D)

(2) (A). (C), (B), (D)

(3) (D). (A), (B). (C)

(4) (D). (C), (A), (B)

(1) Absorptive capacity

(2) Carrying capacity

(3) Subsistence capacity

(4) Exhaustive capacity

Q28 Government of India enacted the Right to Education Act in 2009 to make free education Fundamental Right of all children in the age group of ____ ycars

(1) 4-10

(2) 6-14

(3) 6-12

(4) 8-15

Q29 Following are the sources of electricity generation in India. Arrange them in correct sequence on the ba

of total power generation capacity (higher to lower):

(A) Nuclear

(B) Thermal

(C) New and renewable energy

(D) Hydro

Choose the correct answer from the options given below:

(1) (A), (B), (C), (D)

(2) (A), (C), (B), (D)

(3) (B), (C), (D), (A)

(4) (B), (D), (C), (A)

1. Arrange the following items in correct sequence :

(A) Competition Act

(B) FEMA

(C) FERA

(D) MRTP

Choose the correct answer from the options given below:

(1) (A), (B), (C), (D)

(2) (A), (C), (B), (D)

(4) (C), (B), (D), (A)

(3) (D), (C), (B), (A)

(1) 1948

(2) 1938

(3) 1958

(4) 1942

Q32 Match List-I with List-II

Choose the correct answer from the options given below

(1) (A)-(D). (B) (II), (C) - (III), (D) - (IV)

(2) (A)-(II). (B) - (III), (C) - (I). (D) - (IV)

(3) (A)-(I). (B) - (II). (C) - (IV). (D) - (III)

(4) (A)-(III), (B) (IV), (C) (I). (D) (II) 

Q33 Second phase of Green Revolution is termed front:

(1) mid 1960s to mid 1970s

(2) mid 1970s to mid 1980s

(3) mid 1950s to mid 1960s

(4) mid 1980s to mid 1990s

Q34 Second phase of Green Revolution is termed front:

(1) mid 1960s to mid 1970s

(2) mid 1970s to mid 1980s

(3) mid 1950s to mid 1960s

(4) mid 1980s to mid 1990s

(1) Institutionalized process of technical change

(2) A good harvest

(3) Sustainable export of manufactured goods

(4) High amount of foreign direct investment inflow

Q36 When there is unexpected rise in the sales ____

(1) Aggregate demand would decline.

(2) There will be unplanned accumulation of inventories.

(3) There will be unplanned decumulation of inventories.

(4) Normal profit would be lower.

Q36 During festive season, the currency deposit ratio

(1) decreases

(2) increases

(3) has no impact on it

(4) first decreases then increases

Q37 European Monetary Union was created in ___

(1) 1996     

(2) 1994

(3) 1999     

(4) 2002

Q38 Identify the correct statement in the context of Circular Flow of Income in a two sector economy

(1) Household receives factor services from firms

(2) Household invests while firm saves.

(3) Firms produce goods and services.

(4) Household supplies factor services to the Government.

Q39 

1. Identify the correct set of statements.

(A) Ex Ante Saving represents what is actually planned to save.

(B) Ex Post Saving represents what is actually planned to save.

(C) Ex Post Saving depicts what has actually happened

(D) Ex Ante Post Saving represents what is actually saved.

Choose the correct answer from the options given ow

(1) (A) and (D) only

(2) (A) and (C) only

(3) (B) and (D) only

(4) (C) and (D) only

Q40 Match List-1 with List-II

Choose the correct answer from the options given bow

(1) (A)-(I). (B)-(II). (C)-(III). (D) - (IV)

(2) (A)-(III). (B) (I), (C) (IV). (D) - (II)

(3) (A)-(I). (B) (II), (C)-(IV), (D) - (III)

(4) (A)-(III), (B) - (IV), (C) - (I), (D) - (II) 

Read the following passage and answer the next five

questions:

In our quest to increase agricultural production during the last five decades or so, we almost totally neglected the use of compost and completely switched over to chemical fertilizers. The result is that large tracts of productive land have been adversely affected, water bodies including groundwater system have suffered due to chemical contamination and demand for irrigation has been going up year after year. Farmers, in large numbers all over the country, have again started using compost made from organic wastes of different types. In certain parts of the country, cattle are maintained only because they produce dung which is an important fertilizer and soil conditioner.

Earthworms can convert organic matter into compost faster than the normal composting process. This process is now being widely used. Indirectly, the civic authorities are benefitted too as they have to dispose of a reduced quantity of waste.

Q41 How is civic authority getting benefitted due to biocomposting?

(1) They have to dispose of an increased quantity of waste.

(2) They don't have to dispose of any waste.

(3) Because civic authority has no role in waste management.

(4) They have to dispose of a reduced quantity of waste.

Read the following passage and answer the next five

questions:

In our quest to increase agricultural production during the last five decades or so, we almost totally neglected the use of compost and completely switched over to chemical fertilizers. The result is that large tracts of productive land have been adversely affected, water bodies including groundwater system have suffered due to chemical contamination and demand for irrigation has been going up year after year. Farmers, in large numbers all over the country, have again started using compost made from organic wastes of different types. In certain parts of the country, cattle are maintained only because they produce dung which is an important fertilizer and soil conditioner.

Earthworms can convert organic matter into compost faster than the normal composting process. This process is now being widely used. Indirectly, the civic authorities are benefitted too as they have to dispose of a reduced quantity of waste.

Q42 Choose the correct statement concerned with the passage:

(1) Earthworms take equal time to convert organic matter into compost with respect to the normal composting process.

(2) Earthworms take more time to convert organic matter into compost with respect to the normal composting process.

(3) Earthworm takes less time to convert organic matter into compost with respect to normal composting process.

(4) Comparison between earthworm based composting and normal composting cannot be made.

Read the following passage and answer the next five

questions:

In our quest to increase agricultural production during the last five decades or so, we almost totally neglected the use of compost and completely switched over to chemical fertilizers. The result is that large tracts of productive land have been adversely affected, water bodies including groundwater system have suffered due to chemical contamination and demand for irrigation has been going up year after year. Farmers, in large numbers all over the country, have again started using compost made from organic wastes of different types. In certain parts of the country, cattle are maintained only because they produce dung which is an important fertilizer and soil conditioner.

Earthworms can convert organic matter into compost faster than the normal composting process. This process is now being widely used. Indirectly, the civic authorities are benefitted too as they have to dispose of a reduced quantity of waste.

Q43 Water bodies including groundwater system have suffered due to:

(1) Biocomposting

(2) Chemical contamination and increased demand for irrigation

(3) Organic farming

(4) Increased fertility of land

Read the following passage and answer the next five

questions:

In our quest to increase agricultural production during the last five decades or so, we almost totally neglected the use of compost and completely switched over to chemical fertilizers. The result is that large tracts of productive land have been adversely affected, water bodies including groundwater system have suffered due to chemical contamination and demand for irrigation has been going up year after year. Farmers, in large numbers all over the country, have again started using compost made from organic wastes of different types. In certain parts of the country, cattle are maintained only because they produce dung which is an important fertilizer and soil conditioner.

Earthworms can convert organic matter into compost faster than the normal composting process. This process is now being widely used. Indirectly, the civic authorities are benefitted too as they have to dispose of a reduced quantity of waste.

Q44 In certain parts of the country, cattle are maintained only because they ____

(1) Produce milk to increase income of farmers

(2) Produce dung which is an important fertilizer And soil conditioner

(3) Work as insect repellants

(4) Are a symbol of traditional ethics and values

Read the following passage and answer the next five

questions:

In our quest to increase agricultural production during the last five decades or so, we almost totally neglected the use of compost and completely switched over to chemical fertilizers. The result is that large tracts of productive land have been adversely affected, water bodies including groundwater system have suffered due to chemical contamination and demand for irrigation has been going up year after year. Farmers, in large numbers all over the country, have again started using compost made from organic wastes of different types. In certain parts of the country, cattle are maintained only because they produce dung which is an important fertilizer and soil conditioner.

Earthworms can convert organic matter into compost faster than the normal composting process. This process is now being widely used. Indirectly, the civic authorities are benefitted too as they have to dispose of a reduced quantity of waste.

Q45 What should be the suitable title for the above passage?

(1) Biocomposting

(2) Biopest Control

(3) Traditional Knowledge and Practice

(4) Uses of Chemical Fertilizers

Read the following passage and answer the next five questions.

India had an independent economy before the advent of British rule Though agriculture was the main source of livelihood for most people, yet, the country's economy was characterised by various kinds of manufacturing activities India was particularly well known for its handaft industries in the fields of cotton and silk textiles metal and precious stone works etc. These products enjoy a worldwide market based on the reputation of the fine quality of material used and the high standards of craftsmanship seen in all imports from India The economic policies pursued by the colonial government India were concerned more with the protection and promotion of the economic interests of their home county than with the development of the Indian economy Such policies brought about a fundamental change in the structure of the Indian economy transforming the country into a supplier of raw materials and consumer of finished industrial products from Britain. Obviously, the colonial government never made any sincere attempt to estimate India's national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results Among the notable estimators - Dadabhai Naoroji, Wam Digby, Findlay Shirras, V.KRV. Rao and R.C Desai - it was Rao, whose estimates during the colonial studies did find that the country's growth of aggregate periods were considered very significant. However, most output during the first half of the twentieth century was less than two per cent coupled with a meager half percent growth in per capita output per year.

Q46 Before British rule, India was well known for which manufacturing industries' products?

(1) Cotton and Silk or Khadi textiles

(2) Cotton and Engineering products

(3) Cotton and Silk textiles, metal and precious stones, etc

(4) Engineering goods and precious metals

Read the following passage and answer the next five questions.

India had an independent economy before the advent of British rule Though agriculture was the main source of livelihood for most people, yet, the country's economy was characterised by various kinds of manufacturing activities India was particularly well known for its handaft industries in the fields of cotton and silk textiles metal and precious stone works etc. These products enjoy a worldwide market based on the reputation of the fine quality of material used and the high standards of craftsmanship seen in all imports from India The economic policies pursued by the colonial government India were concerned more with the protection and promotion of the economic interests of their home county than with the development of the Indian economy Such policies brought about a fundamental change in the structure of the Indian economy transforming the country into a supplier of raw materials and consumer of finished industrial products from Britain. Obviously, the colonial government never made any sincere attempt to estimate India's national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results Among the notable estimators - Dadabhai Naoroji, Wam Digby, Findlay Shirras, V.KRV. Rao and R.C Desai - it was Rao, whose estimates during the colonialstudies did find that the country's growth of aggregateperiods were considered very significant. However, most output during the first half of the twentieth centurywas less than two per cent coupled with a meager half percent growth in per capita output per year.

Q47 What kind of interests was the colonial government concerned with in the economic policy for Indian industries?

(1) To promote the handicraft industries of India

(2) Promote and protect small scale industries of India

(3) Protect and promote the economic interests of Indian industry along with their home country

(4) Provide protection and promotion of the comic interests of their home country

Read the following passage and answer the next five questions.

India had an independent economy before the advent of British rule Though agriculture was the main source of livelihood for most people, yet, the country's economy was characterised by various kinds of manufacturing activities India was particularly well known for its handaft industries in the fields of cotton and silk textiles metal and precious stone works etc. These products enjoy a worldwide market based on the reputation of the fine quality of material used and the high standards of craftsmanship seen in all imports from India The economic policies pursued by the colonial government India were concerned more with the protection and promotion of the economic interests of their home county than with the development of the Indian economy Such policies brought about a fundamental change in the structure of the Indian economy transforming the country into a supplier of raw materials and consumer of finished industrial products from Britain. Obviously, the colonial government never made any sincere attempt to estimate India's national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results Among the notable estimators - Dadabhai Naoroji, Wam Digby, Findlay Shirras, V.KRV. Rao and R.C Desai - it was Rao, whose estimates during the colonialstudies did find that the country's growth of aggregateperiods were considered very significant. However, most output during the first half of the twentieth centurywas less than two per cent coupled with a meager half percent growth in per capita output per year.

Q48 Choose the economists who estimated India's National Income and Per Capita Income

(1) Dadabhai Naoroji, William Digby. Bernier K RV Rao and R.C. Desai

(2) Dadabhai Naoroji, William Digby, Findlay Shirras, V KR.V. Rao and R.C. Desai

(3) Dadabhai Naoroji, Jagdish Bhagwati, V KRV Rao and R.C. Desai

(4) Dadabhai Naoroji, Findlay Shirras and V KRV Rao

Read the following passage and answer the next five questions.

India had an independent economy before the advent of British rule Though agriculture was the main source of livelihood for most people, yet, the country's economy was characterised by various kinds of manufacturing activities India was particularly well known for its handaft industries in the fields of cotton and silk textiles metal and precious stone works etc. These products enjoy a worldwide market based on the reputation of the fine quality of material used and the high standards of craftsmanship seen in all imports from India The economic policies pursued by the colonial government India were concerned more with the protection and promotion of the economic interests of their home county than with the development of the Indian economy Such policies brought about a fundamental change in the structure of the Indian economy transforming the country into a supplier of raw materials and consumer of finished industrial products from Britain. Obviously, the colonial government never made any sincere attempt to estimate India's national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results Among the notable estimators - Dadabhai Naoroji, Wam Digby, Findlay Shirras, V.KRV. Rao and R.C Desai - it was Rao, whose estimates during the colonialstudies did find that the country's growth of aggregateperiods were considered very significant. However, most output during the first half of the twentieth centurywas less than two per cent coupled with a meager half percent growth in per capita output per year.

Q49 What was the country's growth of aggregate real output during the first half of the 20th century?

(1) The country's growth of aggregate real output outfit was less than two percent coupled with a meager one percent growth in per capita output per year

(2) The country's growth of aggregate real But was less than two percent coupled with a meager one and a half percent growth in per capita outfit per year.

(3) The country's growth of aggregate real output was less than two and a half percent coupled with a meager half percent growth in per capita output per year.

(4) The country's growth of aggregate real output was less than two percent coupled with a meager half percent growth in per capita output per year

Read the following passage and answer the next five questions.

India had an independent economy before the advent of British rule Though agriculture was the main source of livelihood for most people, yet, the country's economy was characterised by various kinds of manufacturing activities India was particularly well known for its handaft industries in the fields of cotton and silk textiles metal and precious stone works etc. These products enjoy a worldwide market based on the reputation of the fine quality of material used and the high standards of craftsmanship seen in all imports from India The economic policies pursued by the colonial government India were concerned more with the protection and promotion of the economic interests of their home county than with the development of the Indian economy Such policies brought about a fundamental change in the structure of the Indian economy transforming the country into a supplier of raw materials and consumer of finished industrial products from Britain. Obviously, the colonial government never made any sincere attempt to estimate India's national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results Among the notable estimators - Dadabhai Naoroji, Wam Digby, Findlay Shirras, V.KRV. Rao and R.C Desai - it was Rao, whose estimates during the colonialstudies did find that the country's growth of aggregateperiods were considered very significant. However, most output during the first half of the twentieth centurywas less than two per cent coupled with a meager half percent growth in per capita output per year.

Q50 According to the passage, which of the following statements was true about Indian industries' products?

(1) Indian products were of inferior quality and cheap in the worldwide market.

(2) Indian products were promoted by the colonial government and competed with other countries' markets also

(3 Indian products enjoyed a worldwide market based on the quality of material used and the high standard of craftsmanship.

(4) Indian products' raw material for primary goods was imported from other countries and it helped to increase exports.